Television

Elephant Capital acquires stake in Amar Chitra Katha

MUMBAI: Elephant Capital has acquired stake in children‘s book publisher Amar Chitra Katha (ACK) for around Rs 220 million.
While the percentage of the stake is not disclosed, it is learnt that it is close to 30 per cent. The investment will be made through Elephant Capital‘s Mauritian subsidiary, Tusk Investments Fund 1.


Said Elephant Capital LLP Managing Partner Gaurav Burman, "We believe there is a huge amount of value in ACK and look forward to working with the team to fully realise the potential the business holds. I believe this will be a very successful investment for Elephant Capital."
 
While Elephant Capital‘s co-investment vehicle will invest 500,000 pounds, Burman will invest 300,000 pounds.


Besides, the company will appoint two directors to the board of ACK, Gaurav Burman and Amit Jain, who will represent one-third of the board seats.


Gaurav Burman, incidentally, is the son-in-law of Lalit Modi. His company Elephant Capital Invests invested $ 10 million in Global Cricket Ventures that bagged the digital and mobile rights for IPL till 2017.


Amar Chitra Katha is one of the leading children‘s media companies in India with a catalogue of over 500 print and 100 digital products and 25 proprietary characters with pan-Indian recognition.
 

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